It’s safe to say that most companies underestimate how susceptible they are to workplace violence and an active shooter and threat scenario. While there are some industries that are more prone to incidences, workplace violence is a threat to all work environments. It is in the best interest of all business owners, board of directors, leaders and managers within each organization to assess the exposure, communicate and educate your workforce, and manage the risk to protect your assets and financial interest.
The commercial insurance industry is comprised of a complex blend of risk assessment, prevention, and circumstances that are many times left in the hands of Mother Nature. Underwriters and insureds go to great lengths to ensure that every preventive measure and precaution is taken to mitigate the risk, but all the best practices, experience and prevention could not control the detriment that Mother Nature would cause in 2017. Now, in 2018, the insurance industry is trying to pick itself up and dust off after suffering from a $23.5 billion industry loss last year after $52.9 billion of catastrophic claims were filed. 2 To say that these figures will impact 2018 would certainly be an understatement.
As 2017 winds down and 2018 is practically knocking at the door, it has been a year resulting in much economic prosperity for many, but also has presented many corporations with large windows of risk. Some of these risks are common from year to year and ebb and flow due to economic conditions. However, some risks, like cybersecurity, seem like they are nasty viruses that are constantly morphing and evolving to their environment, always staying one step ahead.
Join Ironwood Partner/Vice President, Rick Frederick, as he joins the panel discussion on highlighting the role a robust diligence process plays in a successful transaction. This panel of highly esteemed experts will emphasize how risk/insurance, legal and accounting diligence are interconnected and critical components of the overall diligence effort.
Trending Topic: Working From Home
With longer commutes, improved technology and flexible work schedules, more businesses are allowing employees to work from home or telecommute.
The numbers of telecommuters are increasing. Are businesses managing the risks involved in employing a telecommuting workforce?
What To Expect:
As we move into 2016, Ironwood is prepared to provide our clients with professional council on all of their risk and insurance needs.
"2016... The Year Ahead" reviews highlights from the past year in the Property and Casualty Insurance Marketplace and predicts what will happen in 2016.
Download our white paper and read what we foresee our industry will experience in the coming months.
NEW OSHA REPORTING REQUIREMENT
Effective January 1, 2015 new reporting rules take effect for severe injury and illness under OSHA. Under the new rules, all workplace fatalities must be reported to OSHA within 8 hours of the accident and all work related hospitalizations, amputations and loss of an eye within 24 hours. The previous requirements only required reporting when there was a fatality or three or more workers were hospitalized in the same incident.